Stock market today: Wall Street dips to send S&P 500 to its longest losing streak since January

Sinking technology stocks sent Wall Street lower again on Wednesday, and the Standard & Poor's 500 index fell to its fourth straight loss. The index dipped 29.20 points, or 0.6%, to 5,022.21 for its longest losing streak since early January. It's down 4.4% since setting a record late last month. The Dow Jones industrial average slipped 45.66 points, or 0.1%, to 37,753.31, and the Nasdaq composite sank 181.88, or 1.1%, to 15,683.37.

High interest rates hurt prices for investments and increase the risk of a recession, but Fed officials are concerned after a string of reports this year has shown inflation remaining hotter than forecast. Traders are now mostly expecting just one or two cuts to interest rates from the Federal Reserve this year, according to data from CME Group. That’s down from forecasts for six or more at the start of the year.

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Stock market today: S&P 500 sets a record after Wall Streets breaks out of its lullU.S. stocks broke out of a three-day lull to close at a record. The S&P 500 added 0.9% Wednesday, beating the all-time high it set last week. The Dow Jones Industrial Average climbed 1.2%, and the Nasdaq composite added 0.5%. The Dow and Nasdaq closed just short of their own records.
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